Shared Ownership

This superb modern home is available to buy from as little as £177,000 with a 60% share!

Located in a tucked away position not far from Leatherhead town centre is this ground floor apartment. The accommodation offers two large double bedrooms, a modern bathroom, fitted kitchen, dining area and a living room with a door to a patio and communal gardens beyond. There is an allocated parking space and a lease exceeding 130 years. No onward chain!

Leatherhead town offers a great range of restaurants, shops, two leisure centres and theatre. The town also boasts Waitrose and Sainsbury’s supermarket and Tesco is also close by. Transport links are excellent from here with the trains taking you to London in approximately 40 minutes and the M25 Junction 9 is within easy reach.

PRICING & AFFORDABILITY

Full Market Value: £295,000

60% Share Price: £177,000 (rent £383.39pcm)
Minimum 5% Mortgage Deposit (60% share): £8,850
Approximate Service Charges: £159.28pcm*
Shared Ownership Lease: approx. 133 years
Council Tax Band: D

ELIGIBILITY

Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.

To be eligible for shared ownership you would need to meet the following criteria:

• Your annual household income does not exceed £80,000
• You have a deposit of at least 5% of the share value
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain.

*Service charges are estimated and may subject to change. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.

** This home can also be purchased outright (100% of the value) which is £295,000 and a purchaser would not need to meet the eligibility criteria listed above.